From the Newsroom*
São Paulo – Petrobras, Brazilian oil company, in partnership with the Ultra group, will start building next year the petrochemical hub in the state of Rio de Janeiro. According to information from the website of the newspaper O Globo, US$ 3.5 billion will be invested in the undertaking, which should start its operations in 2010 and will have the capacity of producing 150,000 barrels of petrochemical products per day. As raw material, the heavy oil extracted from the field of Marlim, in the Campos Bay, will be used.
According to the website, as well as investments from Petrobras and the Ultra group, it is estimated that the hub will receive US$ 3 billion in investments from raw material producing companies for the petrochemical industry and another US$ 2 billion from plastics manufacturers. The government of Rio, according to the O Globo, estimates that at least 15,000 direct jobs will be generated.
*Translated by Silvia Lindsey
